Dixons Group Plc, the UK’s leading high-street electrical retailer, has seen sales of personal computers fall during the crucial Christmas period, and the company has warned that annual profits are likely to be below market forecasts, although they will be well ahead of the 96/97 level. Net profits for the 28 weeks to November 15 were up 38% to 58.5m pounds while revenue rose 24% to 1.31bn pounds, but the full year profits warning saw the shares close down 10% at 524 pence. Dixons also announced that its retail sales for the eight weeks to January 10 were four percent lower on a like-for-like basis, while outside the group, retail sales were up eight percent during that period. Personal computers saw strong sales growth through the first half, but there was a sudden decline in early November, the company said. Finance director Robert Shrager said press comments about Intel Corp dropping its chip prices by up to 40 percent might have persuaded people to delay purchasing. The board has raised its interim dividend payment to 2.9 pence from 2.4 pence per share.
